By Tim - http://stockstobuy.org
The following is BP plc (BP) stock technical analysis for June 29, 2010
BP plc (BP) Support & Resistance Levels - 6/29/10
Resistance Levels: $31.18, $33, $34.46, $36.20
Support Levels: $27, $25, $20
Chart - http://www.stockcharts.com/
Support Levels: $27, $25, $20
Chart - http://www.stockcharts.com/
BP plc (BP) stock dropped below $29 last week and you can see the end result. BP now has support at around $27 as well as $25. If BP closes below $25 at any time, I feel we could see a test of $20 or lower. I may buy BP stock for a trade when it closes back above the 10 day moving average for two straight days but will keep a tight stop. This company is now losing around 100 million dollars per day on the spill.
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